Adelaide based proptech platform Bricklet has just received a strategic investment from Stockland (8% equity stake) and Mirvac (5.6% equity stake) to help them scale their fractional property investment platform.
Bricklet is targeted towards sophisticated investors and allows them to purchase a “Bricklet” in a property. Unlike other fractional property investment platforms (like BrickX) Bricklet is structured so property investors are registered against the title of the property (have direct ownership) rather than a Unit Trust structure (passive ownership) which BrickX and others use. Another key difference is that Bricklets is geared at sophisticated investors with the price of Bricklets around $30,000 unlike BrickX where the price is more like $70.
Bricklet has launched with 6 apartments in Sydney’s Northern beaches with plans to launch another 150 properties under what is known as an Initial Bricklet Offering (IBO). The platform will also provide a marketplace whereby Bricklets can be traded between property investors.
1 Comment
Jörn Sanda
BRICKLET operates in the fragmented property space, and is based in Sydney, NSW.
BRICKLET distinguishes property fragmentation as the process where each investor’s name (bricklet owner) is registered against the land title. Whilst fractionalisation is typically reserved to participation in joint ownership managed through unit trusts. Please see http://www.bricklet.com.au for more details, and http://www.bdo.com.au/en-au/insights/superannuation/articles/could-fragmented-property-be-the-new-solution-to-investing-in-real-estate-via-your-smsf for an overview of fragmented property ownership by one of Australia’s leading financial advisory firms.